Failing Cuppy’s Coffee Franchisee Took to the Streets
June 20, 2008 by Sean Kelly
Filed under CUPPY'S COFFEE, JAVA JO'Z/CUPPY'S, xBuyer Beware
(FranchisePick.com The franchise blog) In his Richmond Times-Dispatch column, Iris Taylor describes how a failed Cuppy’s Coffee franchisee “was losing money to bigger competitors,” so they borrowed $40,000 more to go mobile - and operate their business as a concessionaire.
Mary Patrick and her husband, Joe, of Midlothian recently took out a $40,000 line of credit to finance their Cuppy’s of Richmond mobile cafe concession business.
Just attend a Richmond Kickers game, a NASCAR race, the Richmond Folk Festival or other event and you may see their 7-by-10-foot green-and-clear glass Cuppy’s concession trailer.
They will be inside serving lattes, smoothies, coffee, hot chocolate, mochas and other popular specialty drinks.
The Patricks needed the credit line because their franchised Cuppy’s location in Midlothian was losing money to bigger competitors. So they shuttered it and bought one, then another mobile unit and started driving to where the people are.
It was a good move, Mary Patrick said. “We have turned all of our focus to vending and concession. That is the lucrative side” of the business.
The Patricks were able, despite today’s tight lending environment, to get their credit line from Peoples Bank of Virginia through the U.S. Small Business Administration’s new Patriot Express program.
We wish the Patrick’s the best of luck. Operating a concession trailer and an event-based franchise is a tough endeavor that suits a certain kind of person. It can be tough.
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Hi Sean could do with a “cuppy” myself. but can’t get my butt outta the hot seat here. Im catching up in slowmotion on the blog off.
Missing your incisively crucial sense of “humore” over at DMW. give us a pun hun- go on!
moneypenny
I sure wish the Patrick’s all the luck in the world with their mobile Cuppy’s concession. He or she is a Veteran and I’m sure Dale Nabors of Believe and Succeed Fame, Fran Synergy, will be giving them lots of comfort and good advice.
The Patriot Express Loan Initiative was developed to “honor” veterans and there would be no greater honor than a great success in their courageous efforts to save their investment in a Cuppy’s franchise.
Let’s hope they keep us advised of their progress and that the people of Richmond keep them busy serving up those delicious coffees and treats.
Carol
Sean;
I saw one of these mobiles - looked pretty good against what you would normally see.
But, it looks like a pretty tough barrier to crack.
Good luck to them.
I’m in the same boat as these guy’s. My wife and i bought into the hype. We put are $35.000 down on cart. This was back in april 2007 we were promised 6 week completion date . When we check into the CA cominsory in our area. There were no more than open lots with broken down icecream trunk in the back of gas station and repair shops. There was no way i would leave this over priced cart there. Not to mention put my wife and i at risk of dropping this cart late at night after events.We hav’nt got the cart are the refund we ask for.Im done this the crap,it’s lawyer time. Im also looking for others for a class-action.